Stephens Reiterates Equal Weight Rating for Heritage Commerce (NASDAQ:HTBK)

Heritage Commerce (NASDAQ:HTBK)‘s stock had its “equal weight” rating reissued by investment analysts at Stephens in a research report issued on Monday,Benzinga reports.

Other equities research analysts also recently issued reports about the stock. Piper Sandler boosted their target price on shares of Heritage Commerce from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Heritage Commerce in a report on Monday, December 29th. Wall Street Zen cut shares of Heritage Commerce from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. DA Davidson reaffirmed a “neutral” rating and issued a $14.50 target price (up from $12.50) on shares of Heritage Commerce in a research report on Thursday, December 18th. Finally, Zacks Research raised Heritage Commerce from a “strong sell” rating to a “strong-buy” rating in a research report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Heritage Commerce has a consensus rating of “Moderate Buy” and a consensus price target of $12.25.

Heritage Commerce Price Performance

Shares of NASDAQ:HTBK opened at $12.43 on Monday. The company has a market cap of $761.71 million, a P/E ratio of 17.76 and a beta of 0.80. The business has a fifty day simple moving average of $11.37 and a 200-day simple moving average of $10.48. Heritage Commerce has a 52 week low of $8.09 and a 52 week high of $12.89. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06.

Heritage Commerce (NASDAQ:HTBK) last issued its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter. Heritage Commerce had a return on equity of 7.18% and a net margin of 16.31%.The firm had revenue of $50.01 million for the quarter. Equities research analysts forecast that Heritage Commerce will post 0.8 EPS for the current year.

Institutional Trading of Heritage Commerce

Large investors have recently bought and sold shares of the company. HoldCo Asset Management LP purchased a new stake in Heritage Commerce during the 2nd quarter worth approximately $16,121,000. Strs Ohio purchased a new position in shares of Heritage Commerce during the 1st quarter valued at approximately $547,000. Creative Planning grew its position in shares of Heritage Commerce by 38.5% during the second quarter. Creative Planning now owns 173,005 shares of the financial services provider’s stock worth $1,718,000 after buying an additional 48,130 shares in the last quarter. Voya Investment Management LLC increased its stake in shares of Heritage Commerce by 231.1% in the third quarter. Voya Investment Management LLC now owns 64,976 shares of the financial services provider’s stock worth $645,000 after buying an additional 45,350 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Heritage Commerce in the first quarter worth $504,000. Institutional investors and hedge funds own 75.55% of the company’s stock.

About Heritage Commerce

Heritage Commerce Corporation, headquartered in Farmington Hills, Michigan, is the bank holding company for Heritage Bank, N.A., a community-oriented financial institution. Traded on NASDAQ under the symbol HTBK, the company focuses on delivering tailored banking services to businesses, professionals and individuals throughout Southeastern Michigan.

Heritage Bank, N.A. offers a comprehensive portfolio of deposit and lending products designed to meet the needs of commercial and consumer clients.